编辑丨管艺雯 抢夺市场份额仍然是电商目前的竞争重点。 文丨沈方伟 拼多多是公认人效最高的互联网公司之一，但这家公司的核心管理层近期在内部强调，国内业务仍需进一 步提高人效。 我们了解到，拼多多在今年二季度调整了业务重点，从追求商业化、提升利润，转向将 GMV 放回第一目 标。面对激烈的竞争，拼多多需要巩固国内业务基本盘，维持自身优势。 自 2022 年，拼多多从早期追求 GMV 和用户规模，逐渐转向商业化、提高货币化率。2023 年四季度，拼 多多股价超越阿里，并在今年一季度创下历史利润新高，经营利润率甚至超过奢侈品巨头 LVMH。 今年上半年，阿里、京东、抖音电商都转向低价竞争，它们投入大量补贴、 牺牲利润，在已经不怎 么增长的 市场里抢夺份额。 拼多多国内业务的增长不及预期，我们了解到，其主站电商上半年每个季度的 GMV 增速都在 30% 以下， 618 等大促期间竞争对手们强势投入，拼多多二季度的 GMV 增速低于一季度，而此前，拼多多长期保持了 40% 以上的 GMV 增速。 拼多多在国内的另一业务 —— 多多买菜，此前重点是减少亏损和提升经营效率，目前已实现全国盈利。我们 了解到，今年 6 月以来， ...

Investors should look for companies that offer solid returns after meeting all operating and non-operating costs. Thus, it is a good idea to bet on a profitable company over a loss-making one.Here, we have used the concept of accounting ratios to evaluate a company’s profitability. There are several profitability ratios, from which we have chosen the most successful and frequently used metric to determine a firm's bottom-line performance.To that end, PDD Holdings Inc. (PDD) , HNI Corporation (HNI) , and Amp ...

Core Perspective - PDD Holdings, the parent company of Pinduoduo, is emerging as a significant player in the e-commerce sector, particularly by focusing on underserved markets and leveraging a group-buy business model to drive growth [1][2]. Group 1: Company Growth and Performance - Pinduoduo achieved a gross merchandise value (GMV) of $100 billion in just four years, significantly faster than Alibaba, which took nine years to reach the same milestone [3]. - The company's revenue surged from $4.3 billion in 2019 to $34.9 billion last year, with a record net profit of $8.5 billion [3]. - Pinduoduo's strategy of targeting rural areas and small cities has allowed it to capture substantial market share in a competitive landscape [2]. Group 2: International Expansion - Pinduoduo has initiated its global expansion through the brand Temu, which launched in the U.S. market in 2022 and now operates in over 50 markets [4]. - As of September 2023, Temu has reached 82 million active users in the U.S. and has achieved over 50 million monthly downloads [4]. - The company utilizes its extensive supply chain resources and marketing investments to attract global consumers, supported by a strong financial position with $33.5 billion in cash and investments [5]. Group 3: Competitive Landscape and Challenges - Temu faces significant competition from established players like Amazon and must enhance its quality control and logistics to succeed [5]. - The company is also subject to scrutiny from local regulators, which could impact its growth trajectory [5]. - Despite the challenges, PDD Holdings trades at a relatively low valuation of 17 times trailing earnings, reflecting market sentiment towards Chinese stocks [6].

We Are Thesis Retail markets are very dynamic, the ranks of the most popular retailers are constantly changing as new formats are being developed. The companies that strike a chord with their new formats can grow very fast and deliver extraordinary returns to shareholders. Low-cost Direct-To-Consumer retail has been the most successful format in the markets as of late. Retailers like Costco (COST), Ikea and Decathlon have grown rapidly. Now e-commerce retailers are taking over the low-cost DTC segment ...

Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, July 26th:PDD Holdings Inc. (PDD) : This e-commerce company that operates Pinduoduo carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 1.2% over the last 60 days.PDD has a PEG ratio of 0.21 compared with 2.14 for the industry. The company possesses a Growth Score  of B.Vertiv Holdings Co (VRT) : This critical digital infrastructure technologies ...

Stock Performance - PDD Holdings Inc Sponsored ADR shares returned -49% over the past month compared to the Zacks S&P 500 composite's +18% change [1] - The Zacks Diversified Operations industry lost 24% over the same period [1] Earnings Estimates - Current quarter earnings estimate is $289 per share, representing a +1007% year-over-year change [3] - Current fiscal year earnings estimate is $1232, indicating a +878% year-over-year change [3] - Next fiscal year earnings estimate is $1495, showing a +214% change from expected year-ago results [3] - All earnings estimates have remained unchanged over the last 30 days [3] Revenue Estimates - Current quarter sales estimate is $1372 billion, indicating a +903% year-over-year change [5] - Current fiscal year sales estimate is $5627 billion, representing a +624% change [5] - Next fiscal year sales estimate is $7159 billion, showing a +272% change [5] Recent Results - Last reported quarterly revenues were $1202 billion, a +1194% year-over-year increase [6] - Last reported EPS was $283, compared to $101 a year ago [6] - Reported revenues exceeded consensus estimate by +132% [6] - EPS surprise was +7687% [6] - Company has beaten consensus EPS and revenue estimates in each of the trailing four quarters [6] Valuation - PDD Holdings Inc Sponsored ADR is graded C on the Zacks Value Style Score, indicating it is trading at par with its peers [9] Analyst Rating - PDD Holdings Inc Sponsored ADR has a Zacks Rank 1 (Strong Buy) [4] - The Zacks Rank is based on recent changes in consensus estimates and other earnings-related factors [4]

Core Viewpoint - Growth investors are increasingly focusing on stocks with above-average financial growth, and PDD Holdings Inc. Sponsored ADR (PDD) is highlighted as a strong candidate due to its favorable growth metrics and top Zacks Rank [1][6]. Earnings Growth - PDD Holdings Inc. has a historical EPS growth rate of 335%, with projected EPS growth of 87.8% for the current year, significantly outperforming the industry average of 10.5% [3]. Cash Flow Growth - The company exhibits a year-over-year cash flow growth of 76.3%, which is substantially higher than the industry average of -4.7%. Over the past 3-5 years, PDD's annualized cash flow growth rate has been 52.5%, compared to the industry average of 11.2% [4]. Earnings Estimate Revisions - The current-year earnings estimates for PDD have been revised upward, with the Zacks Consensus Estimate increasing by 2% over the past month, indicating a positive trend in earnings estimate revisions [5]. Overall Positioning - PDD Holdings Inc. has achieved a Growth Score of B and a Zacks Rank 1, positioning it well for potential outperformance in the market, making it an attractive option for growth investors [6][7].

NEW YORK, July 20, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of PDD Holdings Inc. f/k/a Pinduoduo Inc. (“PDD” or the “Company”) (NASDAQ: PDD). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980. The investigation concerns whether PDD and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.  [Click here for information about joining the class action] On ...

We Are PDD Holdings (NASDAQ:PDD), also known as Pinduoduo, is a leading e-Commerce platform in China and one of the top three Chinese e-Commerce companies, next to Alibaba (BABA) and JD.com (JD), that dominate the market. PDD Holdings offers a variety of e-Commerce and related services such as fulfillment and logistics and Pinduoduo owns the hugely popular, deal-focused e-Commerce platform Temu. PDD Holdings is seeing strong tailwinds for its gross profits and net income and generating a ton of free cas ...

Core Viewpoint - PDD Holdings is facing short-term headwinds but maintains long-term competitive advantages, leading to a "buy" rating despite current challenges [1][11]. Financial Performance - PDD's Q1 earnings call raised concerns about the quality of earnings, particularly regarding profitability growth amid increased competition [2]. - Operating leverage improved, with sales and marketing expenses dropping to 27% of revenue from 43.2% in Q1 FY2023, and R&D expenses decreasing to 3.4% from 6.7% [2]. - Non-GAAP net margin increased to 35.3% from 26.9% in Q1 FY2023 [2]. - Interest and investment income surged to RMB50.5 billion, a 245% increase from RMB14.6 billion in Q1 FY2023, while total cash and short-term investments rose only 49.5% [2]. Competitive Landscape - PDD is experiencing intensified competition in China's e-commerce market, particularly from Alibaba and JD.com, which are attempting to curb PDD's growth [3]. - PDD's GMV growth of 18% during the 618 event is narrowing the gap with Alibaba's estimated growth of 12% [3]. - Alibaba's GMV growth is pressuring its margins, with adjusted EBTA margins declining despite growth [4]. Political and Regulatory Environment - PDD's Temu faces increased political scrutiny in the U.S., with potential legislative impacts that could negatively affect PDD's valuation [5]. - Two significant bills could harm PDD's valuation if passed: one eliminating capital gains tax breaks for investments in Chinese companies and another excluding Chinese companies from index funds [6]. Long-term Competitive Advantages - PDD's long-term competitive advantages include a focus on "white label" products, a differentiated merchant ecosystem, superior algorithms, and efficient operations [7]. - Continuous margin improvement is driven by higher monetization rates and operational efficiency [7]. Financial Projections and Valuation - Updated financial projections assume PDD can maintain its current monetization rate and operating margin for FY2024 and FY2025 [8]. - Valuation estimates indicate a total valuation of PDD Holdings at approximately USD 362.25 billion, with a current market cap of USD 191.64 billion, suggesting an upside of nearly 90% [10].